As I expected in my previous analysis of XAUUSD, price had a grow to 1782 which was the last major high and resistance barrier.
Currently, price is at the resistance level and is trying to break it. We can see the bullish pressure on price.
There is a support area (yellow colour) between 1760 - 1768 which can be a throwback zone for price before more growth.
If price breaks the red resistance level at 1782.78 and closes a bullish 4h candle above this level, we can expect a continuation on rise to 1802.
Note: a drop and throwback might happen to 1760-1768 before rising, but it is not 100%.
What is your view about XAUUSD? Feel free to share your ideas in the comments.
Currently, price is at the resistance level and is trying to break it. We can see the bullish pressure on price.
There is a support area (yellow colour) between 1760 - 1768 which can be a throwback zone for price before more growth.
If price breaks the red resistance level at 1782.78 and closes a bullish 4h candle above this level, we can expect a continuation on rise to 1802.
Note: a drop and throwback might happen to 1760-1768 before rising, but it is not 100%.
What is your view about XAUUSD? Feel free to share your ideas in the comments.
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